Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Bought by Vicus Capital

Vicus Capital grew its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 11.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,633 shares of the electric vehicle automaker’s stock after purchasing an additional 1,422 shares during the period. Vicus Capital’s holdings in Rivian Automotive were worth $149,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RIVN. RFG Holdings Inc. boosted its stake in Rivian Automotive by 74.7% during the 1st quarter. RFG Holdings Inc. now owns 17,914 shares of the electric vehicle automaker’s stock valued at $196,000 after acquiring an additional 7,659 shares during the last quarter. Austin Private Wealth LLC grew its holdings in Rivian Automotive by 64.7% during the first quarter. Austin Private Wealth LLC now owns 25,787 shares of the electric vehicle automaker’s stock valued at $272,000 after purchasing an additional 10,128 shares during the last quarter. Strategic Planning Group LLC acquired a new position in shares of Rivian Automotive during the first quarter valued at about $867,000. Global Assets Advisory LLC acquired a new stake in Rivian Automotive in the 1st quarter valued at $574,000. Finally, True North Advisors LLC increased its position in Rivian Automotive by 41.8% in the 1st quarter. True North Advisors LLC now owns 26,344 shares of the electric vehicle automaker’s stock valued at $288,000 after acquiring an additional 7,766 shares in the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RIVN has been the subject of several recent research reports. Piper Sandler restated an “overweight” rating and set a $21.00 target price on shares of Rivian Automotive in a report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $15.00 price target on shares of Rivian Automotive in a report on Tuesday, April 2nd. Barclays cut their target price on Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Morgan Stanley reiterated an “overweight” rating and issued a $13.00 price objective on shares of Rivian Automotive in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on Rivian Automotive from $10.00 to $14.00 and gave the stock an “underweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rivian Automotive has a consensus rating of “Moderate Buy” and an average price target of $19.63.

Rivian Automotive Stock Performance

Shares of RIVN traded down $1.05 during trading hours on Friday, hitting $13.42. The company’s stock had a trading volume of 88,110,272 shares, compared to its average volume of 45,308,744. The business has a 50 day simple moving average of $10.68 and a two-hundred day simple moving average of $13.48. The company has a market cap of $13.36 billion, a price-to-earnings ratio of -2.33 and a beta of 2.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.71 and a quick ratio of 3.55. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $28.06.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.03). Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, equities analysts expect that Rivian Automotive, Inc. will post -4.93 earnings per share for the current fiscal year.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the completion of the sale, the chief executive officer now directly owns 909,691 shares in the company, valued at approximately $10,234,023.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

About Rivian Automotive

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.